| African Countries Hoped to Enhance Investment and Technical Cooperation With China |
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| Tuesday,November 14,2006 Posted: 22:59 BJT(59 GMT) 商务部新闻中心 |
African Countries Hoped to Enhance Investment and Technical Cooperation With China
Friday,November 03,2006 Posted: 10:50 BJT(0250 GMT) MOFCOM
During the Beijing Summit of the Forum on China-Africa Cooperation, some African countries focused on learning experiences from China and hoped to launch more extensive cooperation in investment and technology.
Recently, Ambassador of Gabon to China said "We hope that Chinese enterprises could invest in Africa and establish factories here in form of joint ventures to assist us to improve the added value of our products and meanwhile, to increase technical export and transfer to Africa, Only through this way, could we get rid of backwardness"
Ambassador of Congo to China hoped to encourage Chinese enterprises to directly invest in Africa through the Summit to promote cooperation in various key fields, including infrastructure construction, energy source, telecommunication and agriculture. Senegal's Ambassador said that Chinese technology transfer played a far more important role. "Win-win" became one of the favorite words of African ambassadors when talking about China-Africa cooperation. "We hope that China could open new cooperation channels to African countries, and on the other hand, African countries would open their domestic market to China."
In recent years, the general situation of Africa showed a tendency of stabilization, GDP increased steadily and foreign investment kept a growth rate of 4% to 6%. Many African counters eagerly hoped to get rid of the situation of single economic structure and realize all-round and healthy development.
Latest statistics from the Ministry of Commerce indicated that by the end of 2005, China totally invested more than US$6 billion in Africa, set up over 800 enterprises there. China had signed investment protection agreements with 28 African countries, and agreements of Double Taxation Avoidance with 8 African countries. According to the prediction of the Ministry, China-Africa trade would break through US$50 billion in 2006 and realize high-speed increase in 5 years running.
African ambassadors to China said that China and Africa were strongly complementary to each other in economy and had great potential of cooperation. In the future 5 to 8 years, a "Golden Age" would arrive for Chinese enterprises investing in Africa.
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